Eldorado Gold (NYSE:EGO) Shares Up 5.3%

Eldorado Gold Corp (NYSE:EGO) (TSE:ELD) shot up 5.3% on Wednesday . The company traded as high as $7.61 and last traded at $7.60, 4,453,363 shares traded hands during mid-day trading. An increase of 90% from the average session volume of 2,339,934 shares. The stock had previously closed at $7.22.

EGO has been the subject of a number of research reports. TD Securities dropped their price target on Great Canadian Gaming from C$62.00 to C$56.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. CIBC raised Eldorado Gold from an “underperform” rating to a “neutral” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reissued a “neutral” rating and set a GBX 785 ($10.26) price target on shares of in a research note on Wednesday, June 26th. Zacks Investment Research raised IMI PLC/S from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Credit Suisse Group initiated coverage on New Gold in a research note on Tuesday, April 16th. They set a “neutral” rating and a $1.00 price target for the company. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $5.01.

The company has a debt-to-equity ratio of 0.18, a current ratio of 3.98 and a quick ratio of 2.70. The business’s 50 day moving average is $5.28. The stock has a market capitalization of $1.15 billion, a P/E ratio of -44.71, a P/E/G ratio of 12.32 and a beta of 2.00.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Eldorado Gold had a negative net margin of 97.68% and a negative return on equity of 1.40%. The company had revenue of $80.02 million for the quarter, compared to analysts’ expectations of $113.85 million. As a group, equities analysts expect that Eldorado Gold Corp will post 0.11 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. raised its position in Eldorado Gold by 104.7% during the first quarter. Donald Smith & CO. Inc. now owns 4,103,511 shares of the basic materials company’s stock valued at $18,999,000 after purchasing an additional 2,099,175 shares during the period. Norges Bank purchased a new stake in Eldorado Gold during the fourth quarter valued at approximately $4,037,000. Bank of Montreal Can raised its position in Eldorado Gold by 11.9% during the first quarter. Bank of Montreal Can now owns 1,238,379 shares of the basic materials company’s stock valued at $5,733,000 after purchasing an additional 131,965 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in Eldorado Gold by 521.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,213,583 shares of the basic materials company’s stock valued at $5,605,000 after purchasing an additional 1,018,349 shares during the period. Finally, Deutsche Bank AG raised its position in Eldorado Gold by 118.0% during the fourth quarter. Deutsche Bank AG now owns 767,011 shares of the basic materials company’s stock valued at $2,208,000 after purchasing an additional 415,098 shares during the period. Institutional investors and hedge funds own 41.47% of the company’s stock.

Eldorado Gold Company Profile (NYSE:EGO)

Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, Canada, and Romania. The company holds 100% interests in the Kisladag and Efemcukuru gold mines in Turkey; Lamaque gold project in Canada; Perama Hill gold-silver project and Sapes in Greece; and Vila Nova iron ore mine and 100% interest in Tocantinzinho gold project in Brazil.

Featured Story: Trading signals using Bollinger bands

Receive News & Ratings for Eldorado Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eldorado Gold and related companies with MarketBeat.com's FREE daily email newsletter.